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Australia agriculture and forestry machinery market valued at A$4.4Bn in 2010

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Agricultural and Forestry Machinery in Australia: ISIC 2921 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-01 18:59:02
With farming an essential industry for Australia and farming equipment in turn very important for agriculture, the industry of manufacture of agricultural and forestry machinery displayed 6% annual growth over 2000-2010. Experiencing net 83% growth over the decade, the market reached A$4.4 billion in value in 2010.

In terms of annual growth, the market was quite volatile as double-digit growth one year was often followed by a decline the next. Hit by the downturn with a 5% year-on-year decline in 2009, the impact continued with a further 9% y-o-y decrease in market size in 2010. The vast majority of demand each year was created by capital purchases.

While capital purchases were responsible for the already high 72% value share of demand in 2000, their importance further increased to 82% by 2010. Other business purchases were also important, but their importance declined from a 22% value share of the total market in 2000 to a 12% value share of all purchases at the end of the decade.

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